Vascular calcification is an ever-spreading health problem, with many potentially deadly implications and no specific medical treatment available yet. The European Investment Bank (EIB) aims to remedy this situation by providing a €20 million loan to Spanish biopharmaceutical company Sanifit, who is developing novel treatments in two disease indications linked to calcification. The EIB is advancing funds for this research, development and innovation project through a venture debt operation under the European Fund for Strategic Investments (EFSI). EFSI is the financial...

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RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month. The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its remote meetings on the following dates: 23, 25 June 2020 22 and 23 July 2020 The full update, as published by the IASB, can be found here. Disclosure Initiative—Accounting Policies The Board met on 24 June...

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In August, Banca d'Italia (the Italian Central Bank) published a Note on Financial Stability and Supervision on "the FDIC bank crisis management, and experiences and lessons for the Banking Union", prepared by Giovanni Majnoni D'Intignano, Andreas Dal Santo and Michele Maltese. The Note provides useful ideas for the ongoing debate in Europe on the revision of the rules on bank crisis management and on deposit insurance by examining the role that the Federal Deposit Insurance Corporation (FDIC) plays in...

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Event Industry GLOBAL PATH TO RECOVERY So much has happened to our industry since March 2020. The last few months have been very hectic, with multiple changes in our calendar worldwide. GL events group has been very shaken to say the least, with all 50 venues shutdown for over 3 months. Since June, a path to recovery is possible- new sanitary and health measures were put in place and safety guidelines approved around the globe for our MICE industry to...

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Luxembourg, 9th August 2020: Flen Health expresses its solidarity to Lebanon by donating Flaminal® Hydro and Flaminal® Forte in the value of 270.000 € to help thousands of injured people after two explosions hit the city of Beirut on 4th August 2020. As several hospitals have been destroyed or are only half operational, numerous healthcare professionals in operational medical facilities face the challenge of taking efficient care of the many injured and also having to deal with the effects of COVID-19. “As a company specialized in wound...

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“While enduring significant pressure during the worst of Covid 19 market volatility, U.S. triparty repo and U.S. government securities clearance settlement operated without major disruption," said Brian Ruane, CEO Government Securities, Clearance & Collateral at BNY Mellon. For 230 years, we’ve been by your side through revolution and war, recession and depression. Together, we’ve surmounted every challenge. 2020 will be no different. Here’s how we can help you today. For full access to BNY Mellon's solutions: There’s No Substitute for Certainty The...

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The COVID-19 pandemic has influenced the traditional ways in which businesses raise investment and acquire new clients. Although tech savvy founders are likely to have  adjusted quickly, online communication isn’t always easy. How can you make the most of this time? Zoom fatigue and screen burnout are becoming frequent side effects of doing business in the pandemic. The challenges of online communication can be further emphasized when you take culture, personality, and age into account. In some cultures, for example, it...

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As a part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Federal Reserve created the Main Street Lending Program to provide a total of $600 billion in financing for small and medium-sized businesses including not-for-profit organizations. The program provides loans to eligible organizations — those that were financially sound before the COVID-19 crisis but now need financial help to run their operations smoothly. Nonprofit organizations were not included in this program in the original CARES Act....

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